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View Diary: Wm. Daley Says it is not the President's Job to Prosecute Wall St. - It's Hollywood's. (266 comments)

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  •  So very wrong it's laughable (8+ / 0-)

    First, you articles are from 2008-2009 just talking about investigations. The first involving GOldman Sachs was resolved by payment of $300 million fine and restoration of $250 million to investors.  Not small potatoes, but certainly no frog walk and not devastating to GS in any case.

    I suggest you read a recent article by Joe Nocera in the NY Times.  For example:

    The only two people on Wall Street to have been prosecuted for their roles in the crisis are a pair of minor Bear Stearns executives, Ralph Cioffi and Matthew Tannin, whose internal hedge fund, stuffed with triple-A mortgage-backed paper, collapsed in the summer of 2007, an event that anticipated the crisis. A jury acquitted them.

    What's even more pathetic, under Reagan when the S&L industry collapsed:

    In time, nearly 1,000 savings and loans — a third of the industry — collapsed, costing the government billions. According to William K. Black, a former regulator who teaches law at the University of Missouri, Kansas City, “There were over 1,000 felony convictions in major cases” involving executives of the thrifts. Solomon L. Wisenberg, a lawyer who writes for a blog on white collar crime, said, “The prosecutions were hugely successful.”

    That is partly because the federal government threw enormous resources at those investigations. There were a dozen or more Justice Department task forces. Over 1,000 F.B.I. agents were involved. The government attitude was that it would do whatever it took to bring crooked bank executives to justice.

    Yes, just a little research can go a long way in clearing things up.

    The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

    by accumbens on Tue Mar 08, 2011 at 09:12:35 AM PST

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    •  Badabing says there were no investigations (0+ / 0-)

      She was wrong.

      And you're defending someone who made a false statement.

      Again.

      "Nothing in all the world is more dangerous than sincere ignorance and conscientious stupidity" - MLK

      by edwardssl on Tue Mar 08, 2011 at 11:13:58 AM PST

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      •  Where did I say there was no investigations? nt. (1+ / 0-)
        Recommended by:
        gooderservice

        “I hope the two wings of the Democratic Party may flap together.” William Jennings Bryan

        by Badabing on Tue Mar 08, 2011 at 11:48:34 AM PST

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      •  And who am I defending? I'm just trying to set (2+ / 0-)
        Recommended by:
        greeseyparrot, Badabing

        the record, which you seem intent on distorting for who knows what reason, straight.  Admit you're wrong - it's not hard and will not hurt.  Or ignore the facts.  It's up to you.

        The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

        by accumbens on Tue Mar 08, 2011 at 01:34:48 PM PST

        [ Parent ]

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